Hanwha Life Insurance Co., Ltd. (KRX: 088350)

Hanwha Life Insurance Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	10,738,230	10,429,544	11,503,788	16,539,113	16,308,485	15,659,828
Total Interest & Dividend Income	4,149,614	4,143,174	4,372,018	3,744,107	3,714,267	3,689,639
Gain (Loss) on Sale of Investments	2,957,475	3,125,380	1,438,682	1,435,857	1,352,078	726,701
Other Revenue	3,703,768	4,039,818	3,452,089	2,046,584	2,735,521	1,856,728
Total Revenue	21,549,087	21,737,916	20,766,576	23,765,661	24,110,350	21,932,897
Revenue Growth (YoY)	3.01%	4.68%	-12.62%	-1.43%	9.93%	4.76%
Policy Benefits	13,340,451	13,321,910	10,535,803	15,923,878	15,891,773	15,102,450
Policy Acquisition & Underwriting Costs	-	-	-	1,186,927	738,213	752,417
Amortization of Goodwill & Intangibles	82,881	77,826	52,992	102,749	125,878	123,333
Depreciation & Amortization	65,654	84,379	60,308	40,698	40,325	36,631
Selling, General & Administrative	341,886	338,777	316,955	814,427	1,004,304	1,024,645
Other Operating Expenses	4,635,329	4,563,037	5,027,104	3,548,370	2,418,159	3,031,198
Reinsurance Income or Expense	-749,108	-727,948	-824,796	-1,478,269	-1,336,768	-1,584,249
Total Operating Expenses	19,362,952	19,262,335	16,864,226	23,859,784	22,468,146	22,506,737
Operating Income	2,186,136	2,475,582	3,902,351	-94,123	1,642,204	-573,840
Interest Expense	-498,225	-473,412	-271,306	-	-	-
Earnings From Equity Investments	4,603	-9,234	-56,426	100,973	4,694	-3,145
Currency Exchange Gain (Loss)	858,951	563,883	715,546	1,796,120	-852,404	1,036,503
Other Non Operating Income (Expenses)	44,392	-24,172	88,170	165,351	-69,251	-20,585
EBT Excluding Unusual Items	2,595,856	2,532,647	4,378,335	1,968,321	725,243	438,932
Gain (Loss) on Sale of Investments	-1,755,196	-1,509,009	-3,089,616	-350,022	-446,100	-413,263
Gain (Loss) on Sale of Assets	68,931	63,011	93,061	41,945	-4,156	9,210
Asset Writedown	-7,251	-7,013	-2,248	-1,747	-67	-
Pretax Income	902,341	1,079,636	1,379,532	1,658,497	274,921	34,879
Income Tax Expense	218,180	253,655	209,054	409,337	66,674	-23,788
Earnings From Continuing Ops.	684,161	825,981	1,170,478	1,249,160	208,247	58,667
Minority Interest in Earnings	-92,683	-67,501	-140,149	-57,849	-6,133	41,754
Net Income	591,478	758,480	1,030,329	1,191,311	202,114	100,421
Preferred Dividends & Other Adjustments	18,349	37,766	88,808	95.98	96,514	86,630
Net Income to Common	573,129	720,714	941,521	1,191,215	105,600	13,791
Net Income Growth	-42.04%	-26.38%	-13.51%	489.43%	101.27%	-75.82%
Shares Outstanding (Basic)	793	756	754	753	752	751
Shares Outstanding (Diluted)	793	756	754	753	752	751
Shares Change (YoY)	8.90%	0.22%	0.15%	0.09%	0.08%	-
EPS (Basic)	723.11	953.86	1248.89	1582.54	140.42	18.35
EPS (Diluted)	723.11	953.86	1248.89	1582.54	140.42	18.35
EPS Growth	-45.83%	-23.62%	-21.08%	1026.99%	665.08%	-96.12%
Free Cash Flow	4,248,247	1,700,759	864,036	5,472,342	1,442,392	905,756
Free Cash Flow Per Share	5359.94	2250.93	1146.11	7270.07	1918.03	1205.44
Dividend Per Share	150.000	150.000	-	-	-	-
Operating Margin	10.14%	11.39%	18.79%	-0.40%	6.81%	-2.62%
Profit Margin	2.66%	3.32%	4.53%	5.01%	0.44%	0.06%
Free Cash Flow Margin	19.71%	7.82%	4.16%	23.03%	5.98%	4.13%
EBITDA	2,334,670	2,637,787	4,155,851	181,691	1,932,333	-301,256
EBITDA Margin	10.83%	12.13%	20.01%	0.76%	8.01%	-1.37%
D&A For EBITDA	148,534	162,205	253,500	275,814	290,129	272,584
EBIT	2,186,136	2,475,582	3,902,351	-94,123	1,642,204	-573,840
EBIT Margin	10.14%	11.39%	18.79%	-0.40%	6.81%	-2.62%
Effective Tax Rate	24.18%	23.49%	15.15%	24.68%	24.25%	-

Source: S&P Capital IQ. Insurance template. Financial Sources.